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"MasterCard Paypass launches in London"

By admin | March 11th, 2008 | General

A number of areas in London have seen the launch of the MasterCard Paypass system, which is a contactless card system that enables consumers to make smaller purchases by card without having to sign anything or enter a PIN number. These cards can be used for purchases of £10 or less, and are set to be rolled out in other areas of the UK over time, following assessment of their success in the parts of London in which the system has been launched.

According to recent research consumers often decide not to make a purchase of a smaller item, such as food or drink, if it involves having to try and find change – most prefer not to break into a note wherever possible. With this new system consumers in the UK will be able to make these smaller purchases with a convenience piece of plastic and without the hassle of having to find change, break into a note, or even provide a signature or enter a PIN number.

In order to accept payments via this system retailers that wish to participate will need to have specialist readers installed. However, it is thought that many retailers and companies will jump onboard, simply because this could prove a very effective way of increasing business for them. Amongst those already having decided to participate are Coffee Republic and McDonalds, both of which hope that the increased convenience will mean increased trade on the purchase of smaller, cheaper products.

Another similar contactless card system has been launched by Barclays, and this is known as the One Pulse system, offering the same convenience and ability to make smaller purchases without the need for cash, a signature, or a PIN number.

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